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Thursday, December 22

President-Elect Trump Names Carl Icahn Special Advisor to the President on Regulatory Reform

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The 1461

President-elect Donald J. Trump today announced that Carl Icahn has agreed to serve as a special advisor to the President on issues relating to regulatory reform.

Over the course of six decades, Mr. Icahn has distinguished himself as one of America’s most successful businessmen and investors. Mr. Icahn was one of President-elect Trump’s earliest supporters, and his intimate knowledge of what businesses need to grow and thrive makes him a trusted voice in developing President-elect Trump’s America First economic agenda. Icahn will be a leader in helping American entrepreneurs shed job-killing regulations that stifle economic growth.

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“Carl was with me from the beginning and with his being one of the world’s great businessmen, that was something I truly appreciated,” said President-elect Trump. “He is not only a brilliant negotiator, but also someone who is innately able to predict the future especially having to do with finances and economies. His help on the strangling regulations that our country is faced with will be invaluable.”

“I am proud to serve President-elect Trump as a special advisor on regulatory reform,” said Mr. Icahn. “Under President Obama, America’s business owners have been crippled by over $1 trillion in new regulations and over 750 billion hours dealing with paperwork. It’s time to break free of excessive regulation and let our entrepreneurs do what they do best: create jobs and support communities. President-elect Trump is serious about helping American families, and regulatory reform will be a critical component of making America work again.”

Mr. Icahn is a New York City native and grew up in Far Rockaway, Queens. After receiving a degree in philosophy from Princeton University in 1957, he attended medical school at New York University and then joined the Army. Carl began his career on Wall Street in 1961. In 1968, he formed Icahn & Co., and has gone on to become one of the most well-known and influential investors in America, holding substantial or controlling positions in numerous American companies over the years, including RJR Nabisco, Texaco, Philips Petroleum, Western Union, Gulf & Western, Viacom, Revlon, Time Warner, Motorola, Chesapeake Energy, Dell, Netflix, Apple, and eBay. His efforts have improved the competitiveness of American companies in a wide range of industries, including real estate, telecommunications, transportation, industrial services, oil refining and manufacturing.

Carl has been deeply involved in many charitable endeavors for years. In 2012, in recognition of Carl’s gift of $200 million, the Mount Sinai School of Medicine was renamed the Icahn School of Medicine at Mount Sinai and the Institute of Genomics was renamed the Icahn Genomics Institute. The School of Medicine also established the Icahn Scholars Program to attract world-class physician-scientists. He also funded the Icahn Medical Institute Building at Mount Sinai Hospital and the Institute of Genomics, a genomics and multi-scale biology research program. Carl serves as a trustee on the boards of the School of Medicine and Mount Sinai Hospital.

In the realm of education, Carl established seven Icahn Charter Schools in The Bronx borough of New York City. The mission of the schools is based on the belief that all students deserve a rigorous academic program through which they will increase their capacity to learn. At Choate Rosemary Hall, a premiere boarding school located in Wallingford, Connecticut, where he previously served on the board of trustees, he endowed the Icahn Scholars Program, which has awarded a large number of scholarships to underprivileged students.

Carl has also made significant donations to the Randall’s Island Sports Foundation, where he previously served as a trustee, for the construction of Icahn Stadium, a track and field stadium located on Randall’s Island. In addition, he has served as a trustee on the board of Lincoln Center.

Carl Icahn will be advising the President in his individual capacity and will not be serving as a federal employee or a Special Government Employee and will not have any specific duties.